Skip to main content

Top Reasons to Invest in Online Payroll Software

 


The business world is evolving and so is the way how companies manage their payroll and HR requirements.

Most companies avail of cloud based payroll solutions these days. And there are various advantages of the same, such as accuracy for compliance with lower obligation as well as affordability.

This also has a great impact on the overall business environment. Technology has been a blessing to us and it is emerging every day to fulfill the demand in the market.

One can complete all tasks without any hindrance and seamlessly through technology. And companies aren't falling behind.

Business organizations gain traction from cloud-based payroll solution as their jobs are easily done via these solutions.

Now let us start with the basic – what is cloud-based technology? Cloud-based technology is a simple process of hosting software or an application on a server that is placed at a remote location by service providers while people can access it over the net.

You don’t need to install certain software on your personal or office computer. One can operate this software at anytime from anywhere.

So these are a few reasons why you should switch to a cloud-based payroll solution if you still haven’t. 

Manage unorganized employee information

A cloud-based payroll solution can help you track and manage employee data seamlessly. You won’t struggle as you are, right now.

Right from onboarding to benefits, pay rate changes, leaves, and performance reviews, everything would be recorded with the help of the solution.

Companies can even keep account of assets assigned to employees, such as laptops, bikes, et al.


Read Also | 8 Remarkable Features of Cloud-based Payroll Software


Staying compliant with statutory requirements

This is one of the major worries of business houses. Cloud technology offers you updated compliance. You can be totally statutory compliant with cloud payroll software and you can easily let it take care of your TDS, Form 16, PF, ESI, and more.

Tackle employee queries

Cloud-based payroll solution offers employee self-service, which provides access to workers to their respective benefits, leave requests, tax-related information payslips, attendance date, personal information, etc. You will get fewer calls and emails with this. Self-service will also boost employee engagement.

HR system

Rolling out a seamless and punctual payroll requires data to flow into the payroll system, from various HR systems, such as leave management and attendance management systems.


Read Also | Why a Cloud-Based HR Software is Crucial for Any Business?


Punctual Delivery of Reports to Management

One of the major benefits of this solution is that Cloud HR & payroll software with a core HR software module provides value-added reports for HR analytics.

You can easily access labor law reports, statutory reports and HR MIS reports with its help. Say goodbye to manual report-making, which has higher chances of mistakes.

You can access all the data just with the help of a few clicks.

Flexible

Your workers want the flexibility to work from anywhere. It allows applying for leave or edit information while being away from the office. One can also access payslips and tax information with the help of advanced Cloud HR and payroll software.

Cost of payroll

Another benefit of online payroll software is that it is low investment and high returns. You will be able to save on recurring costs like the cost of servers, IT support, etc.


Read Also | Reasons why it is crucial to switch to cloud-based payroll software


Benefits of online payroll software

You should shift to online payroll software instead of manual computing. In a nutshell, here are some points.

·        Cloud-based payroll solution helps in reducing IT-related and infrastructure costs, which is as cheap as a subscription.

·         It can be used from anywhere. There is no need to log in.

·        Service providers take care of upgraded software, new features, and auto-updates of statutory compliances, latest security firewalls, etc.

·       It is easy to use for multiple users. It can be used according to user needs, workflows, reports, MIS, link to different internal systems, etc.

There are many companies like Dynamic Business Solutions that offer convenient and compact solutions such as DynaPay for Dynamics 365 Business Central and Dynamo for Dynamics 365 FinOps. It empowers companies on a daily basis.

To know more, speak to our expert at Dubai: +971 4 447 5525 Abu Dhabi: +971 2 222 2100 or inbox us your query at  dynapay@dynamics.ae OR visit www.dynamics.ae

Labels:
Location: Dubai - United Arab Emirates

Comments

Post a Comment

Popular posts from this blog

8 Key Benefits of Microsoft ERP for Business Growth

When you are thinking of adopting the Microsoft Dynamics 365 ERP system, then the very first question that appears in your mind is how beneficial it will be for your business. An ERP system works as a company’s primary database, providing extensive reporting capabilities and a variety of methods for boosting efficiency and cutting down costs throughout the business. These are a few of the reasons for investing in ERP, however, there are more ways in which this technology can be beneficial for your organization. 1. Data security Microsoft ERP can provide safety to the most important asset of a business. Data is required for making informed decisions and if all data is stored in one place, then there is nothing like it from a business point of view. It increases data security by ensuring that employees can view only the part they need. 2. IT cost reduced Even though the initial cost of installing an ERP system is high, in the long run, there will be a cost reduction. There wi...
Post a Comment
Read more

6 Common HR Challenges Solved by Modern Business Software

When it comes to maintaining an office and its operations, you need to pay attention to how the HR department functions. However, gone are the days when HR personnel used to do everything manually – most of the work these days is automated with the help of HR software. The best part is that HR software can solve various kinds of issues. Let us deep dive into the most common HR challenges which can be solved by modern-day business software. 1.    1.  Compliance issues: No matter how smart and efficient your HR team is, missing deadlines is one of the most common challenges ever. Businesses are required to comply with various federal, local and state laws and regulations. If you fail to do the same, you might need to pay a hefty fine. Modern-day business management systems help you stay on top of the ever-evolving regulations. They will send you friendly reminders so that you do not have to pay hefty fines. 2.   2.  Lack of scalability: Without modern-d...
Post a Comment
Read more

Boosting HR Efficiency in UAE Companies Using Dynamo HR/Payroll for Microsoft Dynamics 365 Finance and Operations

Launched by Microsoft, Dynamics 365 Finance and Operations helps you streamline your business operations as well as reduce costs. The software contributes to the financial and operational efficiency of a company, which is why it is the favourite of most entrepreneurs. It helps you simplify the same and redefine HR administration. This HR software in the UAE is used by new-age businesses because it ensures the optimization of operations. ·        Informed Decision Making: Dynamics 365 Finance and Operations or Dynamics Business Central is a tool that can help businesses make informed decisions. It synchronises modules in an ERP and thus, key decision-makers get insights and can evaluate end-to-end procedures. ·        Reports and Accelerated Financial Closing: The report generation feature of this comprehensive tool can help you stay compliant with the changing rules and regulations while at the same time, simplifying t...
Post a Comment
Read more